Chicago Board of Trade corn and soybean futures turned lower on Wednesday as markets came under pressure from expectations of a U.S. bumper crop, moderate weather in the Midwestern corn belt and sluggish oilseed demand, traders said.
Soybean, corn and wheat futures in the United States are all trading near contract lows, with a lack of any significant weather threats likely to keep the bias pointed lower until something changes the narrative.
Chicago soybeans and corn slumped on low demand and a stronger dollar on Tuesday as financial markets recovered from an epic sell-off on Monday. Wheat futures rose after a massive tender from Egypt for 3.8 million metric tons to cover imports between October 2024 and April 2025—its largest ever according to traders.
Chicago Board of Trade grain and soybean futures turned higher on Friday as market participants and fund traders scrambled to cover their hefty short positions on signs of the U.S. economy weakening, market analysts said.
U.S. corn and soybean futures fell to their lowest levels in nearly four years on Thursday as forecasts for cool, rainy weather in the Corn Belt boosted yield expectations, analysts said.
Chicago December corn futures settled below $4 and hit a contract low on Wednesday as favorable U.S. crop prospects weighed and farmers began selling their hefty supplies of old crop corn, traders said.
A lack of any major weather concerns kept soybean and corn futures at the Chicago Board of Trade trending lower during the last week of July, with many months hitting contract lows.
Chicago soybean prices plunged on Monday to the lowest since October 2020, as forecasts for rain in the U.S. crop belt alleviated concerns over the potential impact on crop yields from hot and dry weather.
Chicago Board of Trade soybean and corn futures plunged on Friday but were set for weekly gains, as weather forecasts indicated positive news for crops in the central United States.
Chicago | Reuters – Chicago soybeans and corn strengthened on Thursday as worries about the August weather forecast in the central U.S. took centre stage. Meanwhile, slow demand and cheap Russian exports pressured wheat as a crop tour in North Dakota forecast high spring yields in the United States, according to analysts. Hot, dry weather